Federal Reserve Bank of Philadelphia President Patrick Harker stressed the importance for the central bank to lower interest rates – just not in the immediate future. Speaking today in an interview with the Philadelphia radio station WHYY, Harker said, “It’s important...
The Consumer Financial Protection Bureau (CFPB) and the U.S. Department of Justice (DOJ) have filed a lawsuit against the Texas-based developer and lender Colony Ridge, accusing the company of operating an illegal land sales scheme targeting tens of thousands of...
A California developer has proposed an apartment tower for Oklahoma City that would be the second tallest building in the nation. According to a report in The Oklahoman, Scot Matteson has put forth a proposal to create a 134-story apartment tower as part of a...
After leasing its flagship store on New York City’s Fifth Avenue since 1997, the luxury retailer Prada (OTC:PRDSF) is paying $425 million to buy the property. Reuters reported Prada will take ownership of the five-story store and its accompanying seven-story office...
Mortgage application activity declined for the week ending Dec. 15, according to new data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, fell by 1.5% on a seasonally adjusted basis from...
Existing home sales inched up in November, breaking a five-month streak of consecutive declines, according to the National Association of Realtors (NAR). Total existing home sales rose by 0.8% from October to a seasonally adjusted annual rate of 3.82 million in...
